Daily Market Wrap: May 10, 2012 Thursday, May 10, 4:57 PM ET
Stocks climbed back into positive territory after news of a better than expected jobs report that gave investors a sense of optimism.
The Labor Department is reporting a drop in weekly claims for unemployment last week, falling 1000 to a seasonally adjusted 367,000.
369,000 was the number economists were expecting.
Also on the economic front, the US trade deficit widened to $51.8 billion in March, which was more than expected, and also marked the fastest rate in 10 months.
Cisco Systems (NASDAQ:
CSCO) beat earnings expectations, but posted disappointing guidance, sending shares lower today.
Shares of Kohl's (NYSE:
KSS) are also trading lower today, after the retailer posted a steep drop in earnings, due to price cuts.
In M&A news, Coty upped its bid to acquire Avon Products (NYSE:
AVP) to about $10.7 billion. Coty said the offer will be withdrawn if Avon doesn't enter into discussions by Monday, May 14th.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings from Nvidia (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
Wednesday Sector Leaders: Biotechnology, Rubber & Plastics
Related symbols: APRI, IMGN, CXDC, KRA
Wednesday Sector Laggards: Music & Electronics Stores, Precious Metals
Related symbols: RSH, CONN, AEM, THM
Tuesday Sector Leaders: Electric Utilities, Oil & Gas Exploration & Production Stocks
Related symbols: ED, PPL, FXEN, MPO
RSX, EET: Big ETF Outflows
Related symbols: RSX, EET, MBT, YNDX
VWO, EFO: Big ETF Inflows
Related symbols: VWO, EFO, TSM, CHL
Wednesday's ETF with Unusual Volume: IGM
Related symbols: IGM, FB, YHOO, JCOM, ADTN
Daily Dividend Report: SHW, SWK, O, GT, SM, SPN
Related symbols: SHW, SWK, O, GT, SM, SPN
Daily Dividend Report: CSX, NTRS, FRC, NGLS, BTE
Related symbols: CSX, NTRS, FRC, NGLS, BTE
Daily Dividend Report: CPG, WHR, VET, SE, NNN
Related symbols: CPG, WHR, VET, SE, NNN
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Daily Market Wrap: May 10, 2012
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